Thirty-Year Fixed Mortgage Rate Hits 2017 Low

Aug 24, 2017

The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 3, 2020 has found that mortgage applications decreased 17.9 percent from one week earlier

It was not a good week for the 30-year fixed mortgage rate, which fell for the fourth consecutive week to its lowest level of this year and its lowest mark since Nov. 10, 2016.

According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 3.86 percent for the week ending Aug. 24, down from last week when it averaged 3.89 percent. On a bright note, it is higher than the 3.43 percent it averaged a year ago at this time.

The 15-year FRM this week averaged 3.16 percent, unchanged from last week. And the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.17 percent this week, up from last week when it averaged 3.16 percent.

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Phil Hall

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Aug 24, 2017

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